March 22 2024

CEG Economic Development Week in Review March 18 – March 22, 2024

Stay up-to-date on business and economic development happenings in the Capital Region with the CEG Economic Development Week in Review. Don’t miss out on the developments that are transforming the region by following us on:



NY CREATES: NY CREATES Featured in CEG News Release: Capital Region Tech R&D Industry Sets New Employment Record

NORDTECH: CEG News Release: Capital Region Tech R&D Industry Sets New Employment Record

National Grid: National Grid Announces the Upstate Upgrade; Multi-year Initiative Will Improve Grid Resilience, Deliver Significant Benefits for Customers, Local Economies

Times Union: Video-game maker Velan Studios announces layoffs

Albany Businss Review: Capital Region Digital Gaming Cluster Stays 500 Strong, with New GameDev Studios



Albany Inno – Why this interior design software startup settled down in Columbia County

“Interior design software company Spoak began as a fully remote, international organization.

Founder Hilah Stahl started the company while living in Berlin, Germany, and collaborated with engineers in Ireland and Italy.”

Aging Workforce And High-Speed Broadband Among Issues Warren County EDC Addressing

“When Jim Siplon was hired as president and CEO of Economic Development Corporation (EDC) of Warren County in early 2021, the country was in the midst of the COVID-19 pandemic.

‘When I stepped into the job, I thought it was about attracting and supporting business,” said Siplon. “That’s kind of the traditional view of economic development. But, COVID helped clarify that there are a lot of dynamics going on in the greater economy and the greater population.’”

Palace Theatre buying land in downtown Albany as it plans next steps

“The Palace Theatre is buying six small parcels surrounding the downtown Albany venue that — years ago — were integral to a planned major expansion that ultimately never happened.

The 2,800-seat theater anticipates closing on the purchase of the parcels by the end of March.”

Troy Music Hall is planning major expansion

“The Troy Savings Bank Music Hall plans to invest $14 million in an expansion project that will allow it to hold performances during the summer months, provide additional space for programming, add parking and transform parts of the exterior.

‘I’m excited. It’s a demanding project for us to take on. It’s transformative,’ Jon Elbaum, executive director of the music hall, said Wednesday, putting the project price at $14 million.”

New details revealed for $1.7B Wadsworth lab replacement in Albany

“The new public health laboratory planned for the W. Averell Harriman State Office Campus in Albany would be a four-story, 647,000-square-foot building with 930 surface parking spaces.

The lab would be built on a vacant, 27-acre southeastern portion of the sprawling office campus near Route 85.”




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